Official Code of Georgia Annotated

Title 10. COMMERCE AND TRADE · Chapter 7. SURETYSHIP · Article 3. RIGHTS OF SURETY AGAINST PRINCIPAL, COSURETIES, AND THIRD PERSONS

10-7-56. Subrogation to rights of creditor; priority of claim.

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Current through: Including Acts of the 2025 Regular Session of the General Assembly.

A surety who has paid the debt of his principal shall be subrogated, both at law and in equity, to all the rights of the creditor and, in a controversy with other creditors, shall rank in dignity the same as the creditor whose claim he paid.

The notes below are printed with the section but are not enacted law (O.C.G.A. § 1-1-1(c)). They are shown apart from the text.

History

Ga. L. 1857, p. 111, § 4; Code 1863, § 2155; Code 1868, § 2150; Code 1873, § 2176; Code 1882, § 2176; Civil Code 1895, § 2995; Civil Code 1910, § 3567; Code 1933, § 103-501.

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Current through: Including Acts of the 2025 Regular Session of the General Assembly.

Text read from t10-(v8)-2024-pdf.pdf, Volume V8, 2024 edition, page 1230; merge action: carried; file SHA-256 7afbade16da7.